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32 <br /> 1 Slide #53 <br /> FY2024-34 Recommended Capital Investment Plan <br /> • Schedule for Consideration <br /> — Introduction of the Capital Investment Plan April 2 <br /> — work Session on Capital Investment Plan April 9 <br /> — Further Consideration through Budget work Sessions May-June <br /> — Approval of the Operating and Capital Budget June 18 <br /> GRANGE COUNTY <br /> 53 [Ef{]It-TH C_A.RC7LiIti4 <br /> 2 <br /> 3 Chair Bedford asked for guidance on the Active Capital Project Summary on page 165. <br /> 4 Kirk Vaughn said each project has a capital funding ordinance and makes the funding <br /> 5 available for the life of the project. He said the sheet provides transparency of what the balance <br /> 6 is for each of those projects. He said that some amounts have been spent or encumbered and <br /> 7 what is leftover is available. He said it is organized by fund and more broadly, by purpose. He <br /> 8 said that a project is closed when there is no more activity. <br /> 9 Commissioner Fowler asked where the money goes if there is leftover and the project is <br /> 10 complete. <br /> 11 Kirk Vaughn said if it's cash it can go to other projects, and if it is borrowed then they will <br /> 12 not borrow. <br /> 13 Commissioner Richards said that is important because you don't borrow the money until <br /> 14 it is needed. <br /> 15 Kirk Vaughn said any project authorized is included in the debt model and they keep track <br /> 16 of all of them. <br /> 17 Bonnie Hammersley said LGC requires bids in hand to borrow. <br /> 18 Chair Bedford said that they had a budget amendment for Lands Legacy and she does <br /> 19 not recall exactly how they changed it. She said it seems to be more continual. <br /> 20 Kirk Vaughn said the budget amendment for that was pre-planned for a grant match. He <br /> 21 said when you see the available balance, that represents the county's authority to spend. He said <br /> 22 those funds do not get spent until they have the project and they will do a budget amendment <br /> 23 when the grant is received. <br /> 24 Commissioner Fowler asked how projects with negative funding are covered. <br /> 25 Kirk Vaughn said if the project is overspent, it will have a budget amendment or if it is <br /> 26 closed out, the balance is absorbed. <br /> 27 Chair Bedford thanked staff for their work on the CIP. <br /> 28 <br /> 29 <br />